AIRS - Liposuction firm AirSculpt downgraded by Morgan Stanley stock falls amid broader selloff

AirSculpt Technologies (NASDAQ:AIRS) stock has lost 23% to $6.29 in Thursday afternoon trading, amidst a broader selloff in the markets, and if the losses hold, the company is set to post its fifth negative session in six.  Also weighing on AIRS stock was Morgan Stanley downgrading its rating to equal-weight from overweight and slashing its price target to $8.50 from $17, representing a 4% upside to AIRS' last closing price. Miami Beach, Fla.-based AirSculpt provides body contouring procedures for the removal of fat under its Elite Body Sculpture brand. The company had stellar market debut in October last year. "We misread the market’s appetite for this type of business at IPO when we initially set our multiple range in the low- to mid-teens," said Morgan Stanley analysts Simeon Gutman, Michael Kessler, Hannah Pittock and Jacquelyn Sussman. The analysts said that AIRS is still in very early stages of its growth runway, and the stock's valuation reflects the

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Liposuction firm AirSculpt downgraded by Morgan Stanley, stock falls amid broader selloff